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Who is the most profitable trader on Forex Factory?

  • #181
  • Dec 11, 2016 1:18am Dec 11, 2016 1:18am
Quoting HeyYou
they pay double spread actually.
That's not the way I see it. But like I said, I don't wish to get involved in this tired old debate all over again, so let's just agree to differ.
  • #182
  • Dec 11, 2016 1:23am Dec 11, 2016 1:23am
Quoting PhilippineFX
{quote} I tried it on demo a couple years ago...It was amusing to watch the 2 opposing trades battle each other in a never ending fight to the death. I never used hedging in a live trade .

hahaha "battle each other in a never ending fight to the death"... I like it.

Back to serious, I'd pay attention to strongly correlated pairs too.. eg. long on AJ and short on EJ is kinda like hedging same pair.
  • #183
  • Dec 11, 2016 1:30am Dec 11, 2016 1:30am
Quoting hanover
{quote} That's not the way I see it. But like I said, I don't wish to get involved in this tired old debate all over again, so let's just agree to differ.
I agree.....Fundamentally the costs are the same hedging as they are taking a SL......There are 2 trades either way. The Hedge just has a delayed start with bias unknown until one position is closed......In the end the only thing that matters is whether the trader is successful over time or not. How he or she gets there matters not a rats ass.....
  • #184
  • Edited 2:03am Dec 11, 2016 1:52am | Edited 2:03am
Quoting HeyYou
{quote} hahaha "battle each other in a never ending fight to the death"... I like it. Back to serious, I'd pay attention to strongly correlated pairs too.. eg. long on AJ and short on EJ is kinda like hedging same pair.
You have to be careful even with hedging correlating pairs.
Correlations break or reverse given enough time or change of fundamentals involved. Most retail traders are better off without any kind of hedging.

Just improve your market timing and risk management and you will increase profitability.
  • #185
  • Dec 11, 2016 2:05am Dec 11, 2016 2:05am
Quoting HeyYou
long on AJ and short on EJ is kinda like hedging same pair.
Long AJ and short EJ is the same as simply being short EURAUD, if you balance the lot sizes correctly. This type of relationship is the basis for triangular equilibrium/arbitrage.
  • #186
  • Dec 11, 2016 2:36am Dec 11, 2016 2:36am
Is important for you know who is the most profitable on forexfactory?.
  • #187
  • Dec 11, 2016 2:44am Dec 11, 2016 2:44am
Quoting hanover
{quote} Long AJ and short EJ is the same as simply being short EURAUD, if you balance the lot sizes correctly. This type of relationship is the basis for triangular equilibrium/arbitrage.
I've never tried triangular arbitrage, seems pretty complicated, isn't it ?
  • #188
  • Dec 11, 2016 4:32am Dec 11, 2016 4:32am
Quoting executivefx
{quote} forex trading is a gamble that i agree with you but thats also where your IQ hits its limit because you fail to understand that all businesses are a gamble entreprenuers and forex traders are both risk takers.
You cannot put business entrepreneurs and forex traders on an equal footing.
Calculated risks and gambling are two different animals. ... nothing in common.
Also, the failure rate in normal businesses (that do provide a benefit to society) is much lower than in Retail Forex.
  • #189
  • Dec 11, 2016 4:39am Dec 11, 2016 4:39am
Quoting executivefx
{quote} its the only business where you can make money from your toilet seat.
Really? As in online business that are run from anywhere anytime behind a PC don't exists....?
  • #190
  • Dec 11, 2016 4:43am Dec 11, 2016 4:43am
Quoting executivefx
{quote} forex trading is a gamble that i agree with you but thats also where your IQ hits its limit because you fail to understand that all businesses are a gamble entreprenuers and forex traders are both risk takers.
A smart person creates a business to supply something that there is a demand for. So although it can be considered a "Gamble" it is a very calculated one and if done right everything is known up front. Forex on the other hand is a game, one run and controlled by brokers and bankers. Why do you think brokers do fantastic business whilst 98% or more of traders fail?

And ask yourself this, if you fail in a business who profits from your failure? Is the money you invest going into someone else s pockets when you fail? Now is Forex more like a business or a casino?
  • #191
  • Edited 5:07am Dec 11, 2016 4:51am | Edited 5:07am
bla bla bla
  • #192
  • Dec 11, 2016 5:51am Dec 11, 2016 5:51am
Quoting mrhigurashi
{quote} A smart person creates a business to supply something that there is a demand for. So although it can be considered a "Gamble" it is a very calculated one and if done right everything is known up front. Forex on the other hand is a game, one run and controlled by brokers and bankers. Why do you think brokers do fantastic business whilst 98% or more of traders fail? And ask yourself this, if you fail in a business who profits from your failure? Is the money you invest going into someone else s pockets when you fail? Now is Forex more like...
There is just so much wrong with this post, I don't know where to begin.

Forex is not a game. Retail forex brokers have no/zero/zilch control over the market. Anyone who believes these two things should not be allowed to open a margin account, as you clearly are not equipped to trade.

As for your comparison between trading the forex and starting a business, why wouldn't you approach both endeavors in the same manner? You do your due diligence before starting a business; you should do the same before opening a trading account. If you look at a chart and don't know what the hell is going on, why would you place a trade? And when the trade results in a loss, its the brokers fault? It's gambling for you, because you don't know what's going on. And if you don't understand what's going on, you have no concept of risk.

I have a solution to you and the bullshit that people like you spread: it's time for the CFTC to require a certification exam to qualify retail forex traders as traders. Retail forex brokers can't accept your deposit without certification. And FF could segregate certified traders from dumb asses.
  • #193
  • Dec 11, 2016 6:05am Dec 11, 2016 6:05am
Quoting GEfx
{quote} There is just so much wrong with this post, I don't know where to begin. Forex is not a game. Retail forex brokers have no/zero/zilch control over the market. Anyone who believes these two things should not be allowed to open a margin account, as you clearly are not equipped to trade. As for your comparison between trading the forex and starting a business, why wouldn't you approach both endeavors in the same manner? You do your due diligence before starting a business; you should do the same before opening a trading account. If you look...
And that must be why no retail traders ever succeed right? To say forex is not gambling is just naive as seems to be the requirement of most retail traders. Just look at the stats. Most fail, The house pretty much always wins and is only out to get your money. You people upset so easily and i find that ironic considering that forex traders apparently need a cool calm mind.....

Sticks and stones!
  • #194
  • Dec 11, 2016 6:08am Dec 11, 2016 6:08am
Quoting Mingary
{quote} You cannot put business entrepreneurs and forex traders on an equal footing. Calculated risks and gambling are two different animals. ... nothing in common. Also, the failure rate in normal businesses (that do provide a benefit to society) is much lower than in Retail Forex.
Not exactly. 8 out of 10 startups fail within the first year. It is actually a better rate than I expected, a few years ago it was about 90% when I was in business school. Not to mention the associated costs of actually running a business and not making any profit. I don't want to start a debate here but I believe that trading is less dangerous than starting a business, since all you have to lose is your invested capital (with some few exceptions, like the EURCHF not long ago), provided that you have zero experience in both field.
Invincibility lies in the defence; the possibility of victory in the attack
  • #195
  • Dec 11, 2016 6:33am Dec 11, 2016 6:33am
Quoting BBalazs
{quote} Not exactly. 8 out of 10 startups fail within the first year. It is actually a better rate than I expected, a few years ago it was about 90% when I was in business school. Not to mention the associated costs of actually running a business and not making any profit. I don't want to start a debate here but I believe that trading is less dangerous than starting a business, since all you have to lose is your invested capital (with some few exceptions, like the EURCHF not long ago), provided that you have zero experience in both field.
Business startup = 50%
Retail forex 95%

http://tech.co/startup-failure-rates-industry-2016-01

I know that the retail forex PR would like the retail forex enthusiasts to be drinking the Retail Forex kool-aid, unfortunately reality sort of gets in the way ....
  • #196
  • Dec 11, 2016 6:36am Dec 11, 2016 6:36am
Quoting mrhigurashi
{quote} And that must be why no retail traders ever succeed right? To say forex is not gambling is just naive as seems to be the requirement of most retail traders. Just look at the stats. Most fail, The house pretty much always wins and is only out to get your money. You people upset so easily and i find that ironic considering that forex traders apparently need a cool calm mind..... Sticks and stones!
Wrong again. There are lots of successful retail forex traders. I know many. And I didn't say it's not gambling, I said it's not a game. It is gambling for people like you. Just like jumping into a pilots seat and trying to take off in an airplane would be a big gamble, but then you'd blame the airport, the airplane manufacturer, the the laws of physics for your crash. So, a big note of caution to everyone wanting to fly an airplane or trade the forex: you need to know something about flying and trading before you take the risks of either endeavor.

And by the way, the house never wins (there is no house). Nor are "they" out to get your money. These 2 comments make it clear that you do not know how the forex market works.
  • #197
  • Dec 11, 2016 6:39am Dec 11, 2016 6:39am
Quoting GEfx
{quote} Wrong again. There are lots of successful retail forex traders. I know many. And I didn't say it's not gambling, I said it's not a game. It is gambling for people like you. Just like jumping into a pilots seat and trying to take off in an airplane would be a big gamble, but then you'd blame the airport, the airplane manufacturer, the the laws of physics for your crash. So, a big note of caution to everyone wanting to fly an airplane or trade the forex: you need to know something about flying and trading before you take the risks of either...
Haha yeah yeah sure sure, you know a guy who knows a guy. And so they all say.....

And you know how it works right? Your got it by the balls! Good for you.
  • #198
  • Dec 11, 2016 6:41am Dec 11, 2016 6:41am
Quoting BBalazs
{quote} Not exactly. 8 out of 10 startups fail within the first year. It is actually a better rate than I expected, a few years ago it was about 90% when I was in business school. Not to mention the associated costs of actually running a business and not making any profit. I don't want to start a debate here but I believe that trading is less dangerous than starting a business, since all you have to lose is your invested capital (with some few exceptions, like the EURCHF not long ago), provided that you have zero experience in both field.
8 out of 10? where did you get that from the time of the great depression? My country states 1 in 5 will fail, perhaps you need to move?
  • #199
  • Dec 11, 2016 6:47am Dec 11, 2016 6:47am
Quoting Mingary
{quote} Business startup = 50% Retail forex 95% http://tech.co/startup-failure-rates-industry-2016-01 I know that the retail forex PR would like the retail forex enthusiasts to be drinking the Retail Forex kool-aid, unfortunately reality sort of gets in the way ....
I agree with your point, although I think the retail forex number is probably 85% or slightly less. But the point is this: if everyone who tries to trade the forex also tried to perform brain surgery, they'd likely have the same level of success, or failure, in both. Everyone knows that brain surgery is difficult; apparently, they don't have the same level of respect for trading. From my experience, every successful trader I know: has a combination of advanced degrees in finance or economics; has some work experience in banking, finance, or investing; has started and owned several business, many related to or connected to banking, finance or international business; and has extreme levels of personal discipline, control and ethics. Successful forex trading takes a lot of hard work and experience. Mingary, I know you know this.
  • #200
  • Dec 11, 2016 6:50am Dec 11, 2016 6:50am
Quoting Mingary
{quote} Business startup = 50% Retail forex 95% http://tech.co/startup-failure-rates-industry-2016-01 I know that the retail forex PR would like the retail forex enthusiasts to be drinking the Retail Forex kool-aid, unfortunately reality sort of gets in the way ....
Well, thanks for the correction. Although it says here (http://www.forbes.com/sites/theyec/2.../#4776a21611df) that it is around 80%. Anyway, for what it's worth, if I was making serious money trading, I certainly would not go around proving strangers wrong on the internet nor would brag about the earnings That's just my 2 cents though.
Invincibility lies in the defence; the possibility of victory in the attack
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